Back lot sale on North Street

30 North Street, new construction, never on MLS. Builder paid $1.250 for its .7 acre in 2013, selling this for $4.850, 4,500 sq. ft., so nice deal for him.

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29 responses to “Back lot sale on North Street

  1. Anonymous

    kaali-nagy designed and built. great home.

  2. anonymous

    Says heat and hot water are fueled by gas and gas is public utility. Does all of North have gas feed? How expensive is it to heat with gas versus oil? Last time I checked propane is pretty pricey.

    • Natural gas is, these days, far cheaper than oil, a difference that with luck will last for years. Propane’s a lot. Not sure how far up North Street the gas utility laid pipes, but it’s a ways.

    • Anonymous

      Natural gas is significantly cheaper now, but the predictions are for that to change. If building new, definitely worth it; very questionable to convert.

      • Anon also

        Not true. There are no credible forecasts for nat gas to approach oil parity in the US anytime in the near future – think $4:00 / mmbtu vs. $18.00 / mmbtu for fuel oil. Please explain the key drivers to close that arb. The only folks pitching this idea are anti-frackers, and that’s their hope & change story.

  3. Anonymous

    Since it’s Kaali-Nagy, I expect the house will be utterly bland and hulking, almost certainly with a “bottom of the well” feeling high-ceilinged library (per brilliant comment yesterday). That’s what they do.

    • Toonces

      I believe silo is the brilliant word I used unless you’re referring to the brilliance that is AJ.

  4. anonymous

    Chris, time to mark the commenter at 4:21 as spam. This is the third time he’s cut and paste this same saga. Unrelated here. Ax.

  5. Anonymous

    Lower North prices have officially become insane.

  6. towny

    Never on MLS?

    • That happens, especially with on-going construction. A buyer sees it going up and steps in early; he can add custom details and often a bit of a price break, because now he’s carrying the project, not the builder and his bank.

  7. Anonymous
    those are cookie cutter??

    • Kaali-Nagy designs and some of the best houses I’ve seen. But that’s just my personal opinion, albeit one shared by his many happy customers. It’s a live-and-let-live world, however, and if someone doesn’t like a Kaali-Naggy home there are plenty other exceptional architects and builders to choose from.

  8. RED FIN

    I think I shack up in one of those

  9. Anonymous

    Almost $5m for a house in someone’s back yard on a busy street?? With all the sales on Patterson in the $3-4m range, what is driving these prices in this neighborbood?

    • anon2

      Agree. K-N does build a nice house but this particular location has me stumped. It’s not just a backlot, it’s a back sandwich, looking smack into the windows of the houses in front. Shoot me before I think this makes sense.

    • I have no idea. $3.7 million for a building lot at 39 Patterson? The supply of money has far surpassed the available common sense.

      • Factcheck

        Several datapoints are accumulating….and $5.4 for 77 Maple Ave. 5500 sqft on 0.5 acre exposed to a busy street. It seems that a price level (at or higher 2006?) has been established for this part of town.

        • Toonces

          You left out one additional fact: The election of Mayor DeBlahblah.
          People leaving NYC who don’t know better would find this a bargain compared to a NYC apartment.

      • Factcheck

        On your supply of money point, assuming the 20% correction from 2006 brought prices to long term trend and from there 8 years of 2% inflation get you about 18% up and close to 2006 top. The pop just happened over about two years and hence looks ‘sudden.’ It does not seem there is much froth yet.

      • anon2

        Saw interesting stats on Houlihan Lawrence Greenwich website:

        MEDIAN SALE PRICE $1,825,000

        What’s the difference between Median and Average?

        • Factcheck

          The average of $10mn $3mn and $2mn is (2+3+10)/3=5 the median is the middle observation, that is 3. the median is used to prevent the skew of the large numbers. In greenwich real estate when one property might sell for $50mm (outlier) using the median provides a better reflection of the ‘average’ sale and the trend.

        • anon2

          Thanks Fact. You musta done good in math class. 🙂